Part 4Financial planning for retirement
Employee information and advice
238Information and advice to employees
1
Regulations may require employers to take action for the purpose of enabling employees to obtain information and advice about pensions and saving for retirement.
2
Regulations under subsection (1) may in particular—
a
provide that they are to apply in relation to employers of a prescribed description and employees of a prescribed description;
b
make different provision for different descriptions of employers and employees;
c
make provision as to the action to be taken by employers (including the frequency at which, and the time and place at which, action is to be taken);
d
make provision as to the description of information and advice in relation to which requirements apply;
e
make provision about the description of person authorised to provide any such information and advice.
3
Employers to whom regulations under subsection (1) apply must provide information to the Regulator about the action taken by them for the purpose of complying with the regulations.
4
Regulations may make provision as to—
a
the information to be provided under subsection (3);
b
the form and manner in which the information is to be provided;
c
the period within which the information is to be provided.
5
Section 10 of the Pensions Act 1995 (c. 26) (civil penalties) applies to any person who, without reasonable excuse, fails to comply with subsection (3).
6
In this section “employer” means any employer, whether or not resident or incorporated in any part of the United Kingdom.